Refunding Bond Appraisal

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Chicago and Alton Railroad Company Three Per Cent Refunding Fifty Year Gold Bond

This is a historical financial instrument issued by the Chicago and Alton Railroad Company, identified as a Three Per Cent Refunding Fifty Year Gold Bond with a face value of $1,000. The certificate features a striking green intaglio border with complex lathework designs typical of high-security bank note printing to prevent counterfeiting. At the top center, a detailed vignette depicts a steam locomotive in motion, while a smaller vignette of an eagle appears near the bottom. The document is printed on heavy bond paper and shows visible cancellation markings in the form of small, circular punch holes along the bottom edge, indicating it is no longer negotiable. The piece is numbered 21204 in red ink. The center contains dense legal text regarding the bond's terms, partially obscured by a rectangular stamp or cancellation pattern. Dated to the early 20th century (specifically 1900 based on the series), the bond reflects the era's grand railroad expansion. The item is professionally matted in a dark green and cream mount and housed behind glass, which shows significant glare from overhead lighting. A printed informational plaque is positioned below the bond, providing historical context about the company's organization in 1861 and its subsequent mergers. The overall condition appears excellent for a collectible scripophily item, with sharp edges and no visible foxing or discoloration to the paper within the frame.

Estimated Value

$100 - $175

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